Transatlantic exchange competition heated up further last
week with Chicago Board of Trade (CBoT)'s announcement of
measures designed to attract new and greater volume European
business to its e-CBoT platform.
CBoT is targeting proprietary trading firms. From 1
February, qualified firms will be able to trade on CBoT's
electronic platform without owning or leasing a seat until the
end of July next year. These firms will also have exchange fees
reduced, from $0.90 to $0.45 per side.
The latter move follows similar rate reductions from CME
late last year and is widely perceived to be a response to
present and future competition from Europe. Eurex is awaiting
regulatory approval for its new US exchange, and hopes to
launch on 1 February.
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